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Cisco 700-805 Certification Exam is an essential credential for professionals who work with Cisco Renewals Manager. It validates the candidate's skills and knowledge of the tool, Cisco's product and service offerings, and their ability to communicate effectively with customers and partners. Earning this certification demonstrates a commitment to professional growth and a dedication to providing excellent customer service.
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When renewing a contract with a customer,which action is important?
A. Start discussions once the contract has expired
B. Do not offer any financing solutions.
C. Validate customers business needs.
D. Propose only the most important part of the solution
Answer: C
NEW QUESTION # 14
Which action can a Renewals Manager take to drive value in the account?
A. Removing adopt on barriers.
B. Def ne the account forecast.
C. Align partners on training.
D. Manage and mitigate renewal risk.
Answer: D
Explanation:
An action that a Renewals Manager can take to drive value in the account is to manage and mitigate renewal risk. Renewal risk is the possibility that a customer will not renew their contract with Cisco at the end of their term, resulting in revenue loss and customer churn. Renewal risk can be caused by various factors, such as low adoption, poor satisfaction, lack of value realization, competitive pressure, budget constraints, or organizational changes. A Renewals Manager can manage and mitigate renewal risk by:
Identifying and prioritizing the accounts that have the highest risk of non-renewal, using data and tools such as ATR (Annualized Total Revenue), ARR (Annual Recurring Revenue), iARR (Incremental Annual Recurring Revenue), TPV (Total Partner Value), icebreaker (a tool that provides insights into new and unique business prospects), and Adopt on Scores (a tool that provides insight into how well customers are utilizing service and software they purchase from Cisco).
Developing and executing a risk mitigation plan for each high-risk account, involving actions such as engaging with the customer, understanding their needs and challenges, demonstrating value and ROI, addressing any issues or concerns, proposing improvements or enhancements, offering incentives or discounts, or leveraging partners or references.
Monitoring and tracking the progress and results of the risk mitigation plan, using data and tools such as CCW-R (Cisco Commerce Software Subscriptions and Services), which is a tool that allows customers and partners to quote, order, and manage their service contracts and software subscriptions from one place; and Customer Success Plan, which is a document that captures the account team's strategy and actions to achieve customer success.
Collaborating with other account team members, such as Customer Success Managers, Account Executives, or Sales Engineers, to align on the renewal strategy, share information and insights, coordinate activities and touchpoints, and deliver a consistent and positive customer experience.
By managing and mitigating renewal risk, a Renewals Manager can drive value in the account by increasing the chances of a successful renewal, retaining customers and revenue, enhancing customer satisfaction and loyalty, and creating opportunities for upsell or cross-sell.
NEW QUESTION # 15
Which two actions can a partner or customer perform within CCW-R? (Choose two.)
A. download hardware, software and services datasheets
B. order new services
C. view and manage their contracts
D. change Customer Address
E. set up billing
Answer: C,D
Explanation:
According to the CCW-R User Guide5, some of the actions that a partner or customer can perform within CCW-R are:
Change Customer Address: This allows the user to update the customer address information for a quote or an order.
View and Manage their Contracts: This allows the user to view their contract details, status, expiration date, product coverage, etc., as well as request a quote or renew their contracts.
NEW QUESTION # 16
Which case represents a risk of renewal where a mitigation analysis will help obtain a more desired outcome?
A. There are no open incidents 30 days before renewal dates.
B. The adoption rate is 50%under the expected level and the plan is six months before the expiration date.
C. The health index of a customer is over expected targets with no red flags.
D. Customer is willing to subscribe to a recommendation case to be publicly communicated.
Answer: D
NEW QUESTION # 17
During which activity of the renewal process would an RM provide an appropriate co-termination timeframe and gain required internal approvals?
A. Billing
B. Deal strategy
C. Quote delivery
D. Proposal build
Answer: D
NEW QUESTION # 18
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